Curbs on deepwater drilling lifted early (Page 6)
The Obama administration lifted its moratorium on deepwater drilling ahead of schedule, saying new environmental and safety regulations had significantly reduced the risks of a big accident; however some cautioned it was a meaningless gesture, oil groups still faced a long process before oil production could be ramped up as they wait for drilling permits.
Soco shares hit Vietnam setback (Page 19)
Shares in Soco International, the Asia-focused oil and gas explorer, fell sharply yesterday after it said it would abandon an appraisal well off the coast of Vietnam. Although drilling tests had showed oil and gas in commercial quantities, a lack of reservoir pressure meant it flowed at “sub-commercial” rates.
Google heads the search for offbeat tech investments (Page 25)
Google have invested hundreds of millions of dollars behind companies working on driverless cars, wind turbines, lunar robots, genetic profiling and human-powered monorails. Google this week annou8nced it was joining a multibillion-dollar venture in wind power off the US east coast. Google said this midatlantic “backbone transmission” project offers “a solid financial return while helping to accelerate offshore wind development – so it’s both good business and good for the environment”.